A piece from Pacific Investment Management Co.'s global economic adviser Joachim Fels
(conveyed via Bloomberg ICYMI)
- "Following a pause since early 2018, the cold currency war that has been waging between the world's major trading blocs for more than five years has been flaring up again"
- "Moreover, even an escalation to a full-blown currency war with direct intervention by the U.S. and other major governments/central banks to weaken their currencies, while not a near-term probability, can no longer be ruled out."
- Trump's calls for the Federal Reserve to cut interest rates as well as signals from the European Central Bank, People's Bank of China and the Bank of Japan that hint at further easing measures has inflamed global currency tensions … "The curtain has opened for round three of the cold currency war"
